Each employee of the village who has been in service of the village for ten years, upon retiring or leaving the service, with and upon recommendation of the head of such employee's department of work, shall be entitled to and shall be paid one month's pay. In addition, the employee shall be entitled to and shall be paid, upon retiring or leaving the service, 1/10 of one month's pay for each additional year of service to the village. For this purpose, a month's pay shall constitute the employee's final base rate of pay for one month, or for 190 hours in the case of hourly personnel. In the event of a death of an employee, the same formula will be used to calculate the sum to be paid in accordance with R.C. § 2113.04, or to the employee's estate with appropriate taxes withheld.
(Ord. 22-03, passed 12-15-03; Am. Ord. 01-23, passed 1-17-23)